Palladium is widely used as a catalyst in chemical reactions, especially in hydrogenation and dehydrogenation processes. It plays a key role in the petroleum and chemical industries for refining crude oil and producing various organic compounds. In automotive manufacturing, palladium is a critical component of catalytic converters, where it helps convert harmful pollutants like carbon monoxide, nitrogen oxides, and unburned hydrocarbons into less harmful substances such as carbon dioxide, nitrogen, and water vapor.

In electronics, palladium is used in multilayer ceramic capacitors and connectors due to its excellent conductivity and resistance to oxidation. It is also employed in dentistry for crowns and bridges, often as part of dental alloys. In the jewelry industry, palladium serves as a lightweight, hypoallergenic alternative to platinum, used in white gold alloys or in its pure form.

Palladium is increasingly important in hydrogen purification and fuel cell technology, where it selectively allows hydrogen to pass through while blocking other gases. Additionally, it is used in some types of solder and in watch springs due to its durability and corrosion resistance.